The document provides information about foreign-trade zones and tariffs. It begins with an overview of tariffs and how they affect prices. It then defines a foreign-trade zone as a designated area outside of US customs territory where goods can be brought without customs duties. The document outlines various financial benefits of foreign-trade zones including duty deferral, avoidance on re-exports, and relief from inverted tariffs. It provides an example cost-benefit analysis for a company. Finally, it outlines the steps a company took to establish a foreign-trade zone including applying, activating, and implementing software.
This document provides instructions for completing an Other Tobacco Products (OTP) Excise Tax Return and associated forms for Nevada. It explains how to calculate taxes owed on OTP sales. Line items on the return collect information on total sales, sales to out-of-state customers or tribes that are tax exempt, returned merchandise credits, and tax amounts due. Associated forms track tax-exempt OTP exports and credits for returned products to claim on the main return. Penalties are assessed for late filing or payment.
Tennant Company provides a presentation on its business and financials. It summarizes Tennant's vision to lead in sustainable cleaning innovation. It reviews Tennant's competitive position in the global cleaning equipment market and its broad portfolio of products. It also discusses Tennant's direct sales and service organizations, customer base, growth strategy including recent acquisitions, and financial results for 2017 including sales, EBITDA, debt, and full year guidance.
Tennant Company provides a presentation on its business and financials. It summarizes Tennant's vision to lead cleaning innovation, its competitive position in the cleaning equipment market, and its broad portfolio of commercial and industrial products. It then discusses Tennant's direct sales and service organizations globally and its broad range of customers. The presentation provides an overview of Tennant's 2016 financial results and growth strategy. It also summarizes recent acquisitions and Tennant's 2017 third quarter financial performance with organic sales growth. The presentation concludes with information on Tennant's debt levels and 2017 full year guidance.
Tennant Company presented financial results for the third quarter and first nine months of 2017. Key points:
- Third quarter sales increased 30.9% to $261.9 million and adjusted EBITDA increased 35.2% to $28 million.
- Year-to-date sales increased 21.3% to $723.8 million and adjusted EBITDA increased 19.5% to $70.7 million.
- Tennant completed its largest acquisition, buying IPC Group for $353 million, expanding its product portfolio and global footprint.
- Guidance for 2017 forecasts sales of $960-990 million and adjusted EPS of $2.20-2.40, including impacts of I
DWS15 - Smart City Forum - Jean Coldefy - Optimod LyonIDATE DigiWorld
The Grand Lyon strategy document outlines challenges with urban mobility in the city, including increased road traffic and decreased car use costs, as well as public funding shortages. It discusses options to better regulate traffic, change behaviors, increase car occupancy rates, and build new infrastructure. The document proposes optimizing real-time traffic regulation, deploying multimodal transportation info and ticketing services, and developing real-time carpooling services. It argues these technologies need large-scale deployment across countries to effectively help individuals and cities manage urban mobility.
Peta Suresh is an academician with a Master's degree in Computer Applications and Bachelor's degree in Science. He has over 10 years of experience teaching subjects related to programming, web development, databases, and more to university and secondary students. He is currently an Assistant Professor and also teaches part-time at a secondary school. His skills include curriculum design, student assessment, classroom management, and analytical skills.
Buy real original UK degree from us. Make your dream true with accredited UK university degrees. We offer bachelor degree, master degree and PhD degree.
This document provides instructions for completing an Other Tobacco Products (OTP) Excise Tax Return and associated forms for Nevada. It explains how to calculate taxes owed on OTP sales. Line items on the return collect information on total sales, sales to out-of-state customers or tribes that are tax exempt, returned merchandise credits, and tax amounts due. Associated forms track tax-exempt OTP exports and credits for returned products to claim on the main return. Penalties are assessed for late filing or payment.
Tennant Company provides a presentation on its business and financials. It summarizes Tennant's vision to lead in sustainable cleaning innovation. It reviews Tennant's competitive position in the global cleaning equipment market and its broad portfolio of products. It also discusses Tennant's direct sales and service organizations, customer base, growth strategy including recent acquisitions, and financial results for 2017 including sales, EBITDA, debt, and full year guidance.
Tennant Company provides a presentation on its business and financials. It summarizes Tennant's vision to lead cleaning innovation, its competitive position in the cleaning equipment market, and its broad portfolio of commercial and industrial products. It then discusses Tennant's direct sales and service organizations globally and its broad range of customers. The presentation provides an overview of Tennant's 2016 financial results and growth strategy. It also summarizes recent acquisitions and Tennant's 2017 third quarter financial performance with organic sales growth. The presentation concludes with information on Tennant's debt levels and 2017 full year guidance.
Tennant Company presented financial results for the third quarter and first nine months of 2017. Key points:
- Third quarter sales increased 30.9% to $261.9 million and adjusted EBITDA increased 35.2% to $28 million.
- Year-to-date sales increased 21.3% to $723.8 million and adjusted EBITDA increased 19.5% to $70.7 million.
- Tennant completed its largest acquisition, buying IPC Group for $353 million, expanding its product portfolio and global footprint.
- Guidance for 2017 forecasts sales of $960-990 million and adjusted EPS of $2.20-2.40, including impacts of I
DWS15 - Smart City Forum - Jean Coldefy - Optimod LyonIDATE DigiWorld
The Grand Lyon strategy document outlines challenges with urban mobility in the city, including increased road traffic and decreased car use costs, as well as public funding shortages. It discusses options to better regulate traffic, change behaviors, increase car occupancy rates, and build new infrastructure. The document proposes optimizing real-time traffic regulation, deploying multimodal transportation info and ticketing services, and developing real-time carpooling services. It argues these technologies need large-scale deployment across countries to effectively help individuals and cities manage urban mobility.
Peta Suresh is an academician with a Master's degree in Computer Applications and Bachelor's degree in Science. He has over 10 years of experience teaching subjects related to programming, web development, databases, and more to university and secondary students. He is currently an Assistant Professor and also teaches part-time at a secondary school. His skills include curriculum design, student assessment, classroom management, and analytical skills.
Buy real original UK degree from us. Make your dream true with accredited UK university degrees. We offer bachelor degree, master degree and PhD degree.
Este poema habla sobre los sentimientos de amor que alguien siente por otra persona. La persona no sabe cómo expresar su amor con palabras ni explicar lo que siente cuando mira a esa persona. La sonrisa de la otra persona cambia su vida y ya no puede imaginar que esa persona no lo ame. El coro se pregunta cómo mirar a esa persona a los ojos y expresar que no quiere que su amor sea pasajero.
The document compares and contrasts several models of information behavior and research models. It discusses Wilson's 1996 model, Dervin's sense-making theory, and Ellis's model of information seeking behavior. Similarities include being user-focused, cyclical processes, and defining problems and solutions. Differences include varying terminology and number of stages. The document then proposes a workflow research model consisting of 8 steps from choosing a topic to evaluating the final product.
Raja Mujahid Iqbal provides his contact information and objective to work in a professional organization contributing to its growth. He has education qualifications including a B.Com in IT and certifications in networking and hardware. His professional experience includes over 6 years working at Teragrid Pvt Ltd in roles such as assistant admin manager, customer relationship management, and human resources.
Nos interesa mucho poder contar con tu apoyo para un fin netamente socialJuan Lalangui
La Fundación invierte el 70% de los fondos recaudados en investigaciones para mejorar la calidad de vida de los pacientes con Enfermedad de Huntington. Otro 20% se destina a apoyo económico para familias con problemas puntuales. El 10% restante se usa para difundir información sobre enfermedades neurodegenerativas como la Enfermedad de Huntington. El objetivo es ayudar y cuantos más se sumen, más fácil será lograr los objetivos de la Fundación.
Gloria Isabel Rodríguez Sorza presentó un mapa sobre gerencia de proyectos para la Universidad de Santander como parte de los requisitos para obtener su título de CV-UDES en el 2016.
G.E.T. Global Constructions - Pereira, Colombia - Thomas ZillyErin Donaldson
Pereira, Colombia. Specialist in ecologically conscious sustainable architecture. G.E.T. Global Constructions is a local business with an international portfolio of projects which range from earthquake proof houses to schools and industrial buildings.
Este documento presenta los conceptos clave de la Teoría General de Sistemas de Ludwig von Bertalanffy, incluyendo sus características, enfoques y parámetros. Explica que un sistema se define por la interrelación e interdependencia entre sus elementos y componentes. También describe dos enfoques para desarrollar la teoría: observar fenómenos generales entre disciplinas o jerarquizar campos por complejidad organizativa. Finalmente, identifica la entrada, salida e interacción dentro de un sistema.
Este documento resume el tema del matrimonio entre personas del mismo sexo. Explica que la homosexualidad ha existido desde los inicios de la humanidad y que las actitudes sociales hacia las parejas del mismo sexo han variado a través del tiempo y lugares, desde la aceptación hasta el rechazo. También describe la primera pareja homosexual registrada en la historia de España y cómo la homosexualidad dejó de considerarse una enfermedad. Además, resume el estado actual del matrimonio entre personas del mismo sexo en México y la lucha por su reconocimiento legal.
Head lice are small parasites that live on the human head near the ears and neck, feeding on blood. They cannot fly or swim but can crawl quickly. While not dangerous, they are common and can be successfully treated. Checking hair thoroughly with a detection comb can find live lice or nits (eggs), which may indicate an active infection requiring treatment of all infected family members on the same day to prevent re-infection. Performing regular detection combing is recommended to find and treat head lice early.
The document discusses bar code scanning and work-in-process (WIP) systems. It explains that bar codes contain predefined information that can be scanned automatically and accurately to collect real-time data. WIP systems track details about jobs like what is being worked on, its location, tasks completed, employees involved, and time/output metrics. The document provides examples of how bar code scanning and WIP systems can be implemented in manufacturing processes like tire production to track materials, production stages, and finished goods.
Foreign-Trade Zones (FTZs) are secure areas located within or near U.S. ports of entry where foreign and domestic goods are considered outside of U.S. customs territory. This allows goods to be stored, exhibited, manufactured, or processed without formal customs entry or payment of duties until they enter U.S. commerce. Key benefits of FTZs include duty elimination on re-exports, duty relief on waste and scrap, and duty deferral which provides working capital savings. Companies use FTZs to gain these cost savings and competitiveness advantages over importing goods directly into the United States.
The document discusses understanding the true costs of offshore manufacturing contracts. It notes that focusing only on the direct cost of goods sold (COGS) will impact gross margins but not necessarily net margins or overall profits when other costs are considered. Offshoring can introduce unexpected transportation costs, quality issues that require rework, delays that impact revenue, intellectual property risks, and currency exchange rate risks that offset initial labor cost savings. A model income statement is provided to show where these additional costs would impact various line items and reduce overall net income compared to domestic manufacturing. The document advocates using a total cost model to properly assess offshoring decisions and account for internal management costs and transition costs of setting up offshore operations.
Select presentations from Growing Global 2016: A Half-Day International Exporting Conference. Information from US Commercial Service, Enterprise Florida, Foreign Trade Zone 193, and Port Tampa Bay on how they can assist local companies reach customers in international markets.
C-Suite Snacks Webinar Series: Reducing Risk and Cost in the Global Supply ChainCitrin Cooperman
This webinar discusses various strategies companies can use to reduce risk and costs in their global supply chains, particularly in light of increased tariffs. It outlines areas for companies to consider like leveraging free trade agreements, drawback programs, bonded warehousing, and foreign trade zones. It also discusses alternative sourcing, tariff engineering, and improved demand planning. The presentation aims to help companies assess opportunities to lower costs and mitigate tariff impacts through a collaborative cross-functional process.
The document discusses various trade policies including tariffs, quotas, export taxes/subsidies, and voluntary export restraints. It analyzes the effects of these policies in both small and large country models. Tariffs and quotas can increase domestic producer surplus but reduce consumer surplus and lead to deadweight loss. Export taxes and subsidies also affect trading partners and may increase a large country's revenue but generally reduce welfare. Arguments for protectionism include generating government revenue, national defense concerns, balance of payments issues, and attempting to improve terms of trade, but retaliation limits benefits.
The document summarizes a presentation given by Mrs. Florence Seriki on developing a national broadband strategy for Ghana. Some key points from the presentation include:
- Globalization and technology have made knowledge a critical determinant of competitiveness, requiring nations to prioritize building capacity to utilize technology.
- Effective use of ICT can help meet growing needs for skilled labor and manage information systems.
- Factors like access to funding, affordable power, tax incentives, and strong regulations are needed to support local ICT production in Ghana.
- Reducing taxes and import duties on computer components could significantly lower the cost of PC ownership in Ghana.
- Developing policies that support research, local production, and computer adoption
This document provides an overview of topics related to tariffs and global agri-food trade, including:
- Types of commercial policies such as tariffs, quotas, subsidies, and non-tariff barriers.
- Definitions and effects of tariffs, including consumer surplus, producer surplus, deadweight costs for small countries.
- Maximum bound tariff rates that countries can impose according to the World Trade Organization, which generally are lower for high-income countries and higher for developing countries.
Mas q4 2016 earnings presentation 02.09.2017 Masco_Investors
- The document is Masco's Q4 and full year 2016 earnings presentation. It summarizes the company's financial results and performance across its business segments for the quarter and full year.
- For Q4 2016, total company sales increased 3% while operating profit was $221 million, up slightly from the prior year. Plumbing Products sales increased 5% and operating profit grew significantly.
- For the full year 2016, total sales increased 3% to $7.36 billion while adjusted operating profit rose 27% to $1.075 billion, driven by growth across all segments.
The document provides financial and operating results for WD-40 Company for Q3 FY16. It reported net sales of $96.4 million, a 4% increase over Q3 FY15. Gross profit margin increased 350 basis points to 56.8% due to lower input costs. Operating income grew 14% to $18.7 million and net income increased 16% to $12.7 million. The results were impacted by unfavorable foreign currency exchange rates which reduced sales by approximately $1.2 million. The document also discusses strategic initiatives, sales by region, gross margin trends, and financial guidance for fiscal year 2016.
Este poema habla sobre los sentimientos de amor que alguien siente por otra persona. La persona no sabe cómo expresar su amor con palabras ni explicar lo que siente cuando mira a esa persona. La sonrisa de la otra persona cambia su vida y ya no puede imaginar que esa persona no lo ame. El coro se pregunta cómo mirar a esa persona a los ojos y expresar que no quiere que su amor sea pasajero.
The document compares and contrasts several models of information behavior and research models. It discusses Wilson's 1996 model, Dervin's sense-making theory, and Ellis's model of information seeking behavior. Similarities include being user-focused, cyclical processes, and defining problems and solutions. Differences include varying terminology and number of stages. The document then proposes a workflow research model consisting of 8 steps from choosing a topic to evaluating the final product.
Raja Mujahid Iqbal provides his contact information and objective to work in a professional organization contributing to its growth. He has education qualifications including a B.Com in IT and certifications in networking and hardware. His professional experience includes over 6 years working at Teragrid Pvt Ltd in roles such as assistant admin manager, customer relationship management, and human resources.
Nos interesa mucho poder contar con tu apoyo para un fin netamente socialJuan Lalangui
La Fundación invierte el 70% de los fondos recaudados en investigaciones para mejorar la calidad de vida de los pacientes con Enfermedad de Huntington. Otro 20% se destina a apoyo económico para familias con problemas puntuales. El 10% restante se usa para difundir información sobre enfermedades neurodegenerativas como la Enfermedad de Huntington. El objetivo es ayudar y cuantos más se sumen, más fácil será lograr los objetivos de la Fundación.
Gloria Isabel Rodríguez Sorza presentó un mapa sobre gerencia de proyectos para la Universidad de Santander como parte de los requisitos para obtener su título de CV-UDES en el 2016.
G.E.T. Global Constructions - Pereira, Colombia - Thomas ZillyErin Donaldson
Pereira, Colombia. Specialist in ecologically conscious sustainable architecture. G.E.T. Global Constructions is a local business with an international portfolio of projects which range from earthquake proof houses to schools and industrial buildings.
Este documento presenta los conceptos clave de la Teoría General de Sistemas de Ludwig von Bertalanffy, incluyendo sus características, enfoques y parámetros. Explica que un sistema se define por la interrelación e interdependencia entre sus elementos y componentes. También describe dos enfoques para desarrollar la teoría: observar fenómenos generales entre disciplinas o jerarquizar campos por complejidad organizativa. Finalmente, identifica la entrada, salida e interacción dentro de un sistema.
Este documento resume el tema del matrimonio entre personas del mismo sexo. Explica que la homosexualidad ha existido desde los inicios de la humanidad y que las actitudes sociales hacia las parejas del mismo sexo han variado a través del tiempo y lugares, desde la aceptación hasta el rechazo. También describe la primera pareja homosexual registrada en la historia de España y cómo la homosexualidad dejó de considerarse una enfermedad. Además, resume el estado actual del matrimonio entre personas del mismo sexo en México y la lucha por su reconocimiento legal.
Head lice are small parasites that live on the human head near the ears and neck, feeding on blood. They cannot fly or swim but can crawl quickly. While not dangerous, they are common and can be successfully treated. Checking hair thoroughly with a detection comb can find live lice or nits (eggs), which may indicate an active infection requiring treatment of all infected family members on the same day to prevent re-infection. Performing regular detection combing is recommended to find and treat head lice early.
The document discusses bar code scanning and work-in-process (WIP) systems. It explains that bar codes contain predefined information that can be scanned automatically and accurately to collect real-time data. WIP systems track details about jobs like what is being worked on, its location, tasks completed, employees involved, and time/output metrics. The document provides examples of how bar code scanning and WIP systems can be implemented in manufacturing processes like tire production to track materials, production stages, and finished goods.
Foreign-Trade Zones (FTZs) are secure areas located within or near U.S. ports of entry where foreign and domestic goods are considered outside of U.S. customs territory. This allows goods to be stored, exhibited, manufactured, or processed without formal customs entry or payment of duties until they enter U.S. commerce. Key benefits of FTZs include duty elimination on re-exports, duty relief on waste and scrap, and duty deferral which provides working capital savings. Companies use FTZs to gain these cost savings and competitiveness advantages over importing goods directly into the United States.
The document discusses understanding the true costs of offshore manufacturing contracts. It notes that focusing only on the direct cost of goods sold (COGS) will impact gross margins but not necessarily net margins or overall profits when other costs are considered. Offshoring can introduce unexpected transportation costs, quality issues that require rework, delays that impact revenue, intellectual property risks, and currency exchange rate risks that offset initial labor cost savings. A model income statement is provided to show where these additional costs would impact various line items and reduce overall net income compared to domestic manufacturing. The document advocates using a total cost model to properly assess offshoring decisions and account for internal management costs and transition costs of setting up offshore operations.
Select presentations from Growing Global 2016: A Half-Day International Exporting Conference. Information from US Commercial Service, Enterprise Florida, Foreign Trade Zone 193, and Port Tampa Bay on how they can assist local companies reach customers in international markets.
C-Suite Snacks Webinar Series: Reducing Risk and Cost in the Global Supply ChainCitrin Cooperman
This webinar discusses various strategies companies can use to reduce risk and costs in their global supply chains, particularly in light of increased tariffs. It outlines areas for companies to consider like leveraging free trade agreements, drawback programs, bonded warehousing, and foreign trade zones. It also discusses alternative sourcing, tariff engineering, and improved demand planning. The presentation aims to help companies assess opportunities to lower costs and mitigate tariff impacts through a collaborative cross-functional process.
The document discusses various trade policies including tariffs, quotas, export taxes/subsidies, and voluntary export restraints. It analyzes the effects of these policies in both small and large country models. Tariffs and quotas can increase domestic producer surplus but reduce consumer surplus and lead to deadweight loss. Export taxes and subsidies also affect trading partners and may increase a large country's revenue but generally reduce welfare. Arguments for protectionism include generating government revenue, national defense concerns, balance of payments issues, and attempting to improve terms of trade, but retaliation limits benefits.
The document summarizes a presentation given by Mrs. Florence Seriki on developing a national broadband strategy for Ghana. Some key points from the presentation include:
- Globalization and technology have made knowledge a critical determinant of competitiveness, requiring nations to prioritize building capacity to utilize technology.
- Effective use of ICT can help meet growing needs for skilled labor and manage information systems.
- Factors like access to funding, affordable power, tax incentives, and strong regulations are needed to support local ICT production in Ghana.
- Reducing taxes and import duties on computer components could significantly lower the cost of PC ownership in Ghana.
- Developing policies that support research, local production, and computer adoption
This document provides an overview of topics related to tariffs and global agri-food trade, including:
- Types of commercial policies such as tariffs, quotas, subsidies, and non-tariff barriers.
- Definitions and effects of tariffs, including consumer surplus, producer surplus, deadweight costs for small countries.
- Maximum bound tariff rates that countries can impose according to the World Trade Organization, which generally are lower for high-income countries and higher for developing countries.
Mas q4 2016 earnings presentation 02.09.2017 Masco_Investors
- The document is Masco's Q4 and full year 2016 earnings presentation. It summarizes the company's financial results and performance across its business segments for the quarter and full year.
- For Q4 2016, total company sales increased 3% while operating profit was $221 million, up slightly from the prior year. Plumbing Products sales increased 5% and operating profit grew significantly.
- For the full year 2016, total sales increased 3% to $7.36 billion while adjusted operating profit rose 27% to $1.075 billion, driven by growth across all segments.
The document provides financial and operating results for WD-40 Company for Q3 FY16. It reported net sales of $96.4 million, a 4% increase over Q3 FY15. Gross profit margin increased 350 basis points to 56.8% due to lower input costs. Operating income grew 14% to $18.7 million and net income increased 16% to $12.7 million. The results were impacted by unfavorable foreign currency exchange rates which reduced sales by approximately $1.2 million. The document also discusses strategic initiatives, sales by region, gross margin trends, and financial guidance for fiscal year 2016.
This document discusses tariffs and their types. It defines a tariff as a tax levied on products when they cross national boundaries, and can be import or export tariffs. The main types of tariffs discussed are specific tariffs which charge a fixed fee per unit, ad valorem tariffs which charge a percentage of the product value, and compound tariffs which use a combination. Protection of domestic industries and revenue generation are described as the main reasons countries implement tariffs. Non-tariff barriers like import quotas, voluntary export restraints, licenses and embargoes are also outlined. The effects of tariffs on domestic prices, consumption, government revenue, terms of trade and balance of payments are summarized.
Pakistan's major exports include raw cotton, textiles, rice, leather products, carpets, surgical instruments, and sports goods. Exports were targeted to increase by 12.9% but food exports declined by 3.5% due to lower rice and fruit production from adverse weather. Textile exports grew slightly as exports of items like knitwear and readymade garments increased, while raw cotton and cotton cloth declined. The largest export markets are the US, UK, and Germany, though exports are highly concentrated in few countries and commodities. Issues to address include increasing value-added, quality, and diversifying exports.
The IC-DISC (Interest Charge Domestic International Sales Corporation) is a tax incentive program that allows US exporters to defer taxes on a portion of export profits by shifting those profits to a DISC entity. Setting up a DISC allows companies to pay a 15% tax rate on half of export profits rather than the usual 20% rate, saving on total tax liability. The webinar discussed how DISCs work, provided an example benefit calculation, and addressed entity structure considerations and qualifications for the program. Questions from participants would be answered by follow-up email.
The document discusses key economic goals and indicators used to measure economic performance, including low inflation, low unemployment, a healthy balance of payments, and high economic growth. It defines inflation, unemployment, balance of payments, and economic growth. For each concept, it provides the measurement used (e.g. Consumer Price Index for inflation, unemployment rate for unemployment) and a brief explanation of the measurement. It also discusses GDP and the three approaches used to calculate it - output, expenditure, and income.
This document discusses indirect taxes and subsidies. It provides details on different types of indirect taxes, including VAT, fuel duties, and tobacco duties levied in the UK. It explains how indirect taxes increase producer costs and are passed onto consumers in the form of higher prices. The document also examines how the burden of an indirect tax is distributed between consumers and suppliers, depending on the price elasticity of demand. Finally, it discusses government subsidies to producers and consumers and some examples used in different markets.
The document discusses international trade and restrictions on free trade. It begins by covering the history of the World Trade Organization (WTO), formed in 1995 to replace the General Agreement on Tariffs and Trade (GATT) and liberalize global trade. The WTO aims to administer trade agreements, facilitate negotiations, and handle disputes while promoting principles like non-discrimination and fair competition. The document then examines two common forms of trade protection: tariffs, which are taxes on imports, and quotas, which place limits on import quantities. Both result in higher domestic prices and production by inefficient domestic firms, hurting consumers but benefiting producers. They also reduce global economic efficiency and consumer surplus.
This chapter discusses how economic activity is measured at the national level. It introduces the basic framework of national income accounting and the three approaches to measuring GDP: the product, income, and expenditure approaches. It provides an example to illustrate how the three approaches should yield the same result. The chapter also distinguishes between nominal and real GDP and explains how price indexes like the GDP deflator and CPI are used to measure inflation.
Econ452 Learning Unit 10 - Part 2 - 2020 fallsakanor
This document discusses various non-tariff barriers (NTBs) to trade such as quotas, export subsidies, import quotas, and voluntary export restraints. It explains how each of these policies affect trade flows and impact producer surplus, consumer surplus, and national welfare in exporting and importing countries. Specifically, it analyzes the effects of the EU's agricultural export subsidies and the US sugar import quota. It also covers how transportation costs, local content requirements, and technological changes have impacted patterns of international trade over time.
- Tennant Company reported fourth quarter 2016 consolidated net sales of $211.7 million, up 2.9% from the fourth quarter of 2015. Organic sales grew 3.2% in the quarter.
- Net earnings for the quarter were $0.85 per diluted share, up 9% from the fourth quarter of 2015.
- For full year 2016, Tennant reported sales of $808.6 million. Operating profit margin was 8.5% and diluted EPS was $2.59 per share, up from 2015.
- Tennant also announced plans to acquire IPC Group, a manufacturer of cleaning equipment based in Italy, for $350 million. The acquisition is expected to expand Tennant
Similar to Opening New Markets for Your Products - Mark Hardison (20)
2. Presentation Agenda
Tariffs and why they are used
What is a Foreign-Trade Zone (FTZ)?
The Banner Pharmacaps FTZ Story
Questions
3. Tariffs and why they are used
What is a tariff?
• A tax that adds to the cost of imported goods
• A form of international trade policy
Why are tariffs used?
• To protect . . .
Domestic employment
Consumers
Infant industries
Certain industries of strategic importance
• To retaliate against an unfair trading partner
4. How do tariffs affect prices?
Domestic price is found at DP
World price is found at WP
At the lower WP price:
• Domestic consumers will
consume more (WQ)
• Domestic manufacturers
will produce less (DQ)
Imports make up difference
(WQ-DQ)
Price without the influence of a tariff
5. How do tariffs affect prices?
A tariff increases WP to DPT
Under the price increase:
• Domestic consumers will
consume less (WQ)
• Domestic manufacturers
will produce more (DQ)
Overall effect is:
• Reduction in imports
• Increased domestic
production
• Higher consumer prices
Price under the influence of a tariff
7. The following slides courtesy of . . .
Craig M. Pool
President
Foreign-Trade Zone
Corporation
8. What is a Foreign Trade Zone?
A specially designated area, in or adjacent to a U.S.
Port of Entry, which is considered to be outside the
Customs territory of the United States
Established by Congress under the Foreign-Trade
Zones Act of 1934
Purpose is to
Expedite and encourage foreign commerce
Create jobs and capital investment in the United States
9. What May Be Done in an FTZ?
Assembly Storage Manufacturing
Relabeling Mixing Repairing
Repackaging Cleaning Destroy
Processing Display Sampling
Testing Manipulation Salvaging
11. Financial Benefits
Relief from Inverted Tariffs
Duty Deferral
No Duty on Re-exports
Duty reduction or elimination on scrap
Duty elimination on waste and yield loss
Reduction in Customs Fees
Duty Reduction / Elimination
12. Calculating Inverted Tariff Relief
Motor admitted to zone
– HTSUS 8501.10
– Duty rate = 5.3%
Motor manufactured into vacuum cleaner
– Cleaner HTSUS 8479.89
– Duty rate = FREE
Duty rate applied to motor would be FREE
Duty reduction = 5.3%
13. Inverted Tariff Relief Benefit
MOTOR IMPORTED
FROM CHINA
DUTY RATE
5.3%
NEW AGE VACUUMS
SUBZONE FACILITY
5.3% REDUCTIONIN DUTY ON DOMESTICALLY SOLD PRODUCT
VACUUM SOLD
IN DOMESTIC
U.S. MARKET
DUTY PAID AT
FREE VACUUM RATE
14. Inverted Tariff Relief Benefit –
Vendor Managed Inventory
MOTOR IMPORTED
FROM CHINA
DUTY RATE
5.3%
NEW AGE VACUUMS
SUBZONE FACILITY
VACUUM SOLD
IN DOMESTIC
U.S. MARKET
DUTY PAID AT
FREE VACUUM RATE
G.P. ZONE
WAREHOUSE
5.3% REDUCTIONIN DUTY ON DOMESTICALLY SOLD PRODUCT
15. Financial Benefits
Relief from Inverted Tariffs
Duty Deferral
No Duty on Re-exports
Duty reduction or elimination on scrap
Duty elimination on waste and yield loss
Reduction in Customs Fees
No duty is paid until the merchandise enters
the commerce of the US
16. Duty Deferral Benefit
MOTOR IMPORTED
FROM CHINA IN
JANUARY, 2011
DUTY RATE
5.3%
NEW AGE VACUUMS
SUBZONE FACILITY
MOTOR SOLD AS SERVICE
PART IN DOMESTIC U.S.
MARKET ON AUGUST, 2011
DUTY PAID AT 5.3%,
BUT ONLY AFTER SOLD
THE DUTY ON THE MOTOR IS DEFERRED FOR 7 MONTHS
17. Financial Benefits
Relief from Inverted Tariffs
Duty Deferral
No Duty on Re-exports
Duty reduction or elimination on scrap
Duty elimination on waste and yield loss
Reduction in Customs Fees
U.S. Duty is not paid on merchandise
exported from the distribution zone
18. Re-export Benefit
MOTOR IMPORTED
FROM CHINA IN
DUTY RATE
5.3%
NEW AGE VACUUMS
SUBZONE FACILITY
MOTOR SOLD AS SERVICE
PART AND SHIPPED TO
EUROPE
NO DUTY IS EVER PAID
5.3% SAVINGS
THE DUTY IS NEVER PAID ON EXPORTED MERCHANDISE
19. Financial Benefits
Relief from Inverted Tariffs
Duty Deferral
No Duty on Re-exports
Duty reduction or elimination on scrap
Duty elimination on waste and yield loss
Reduction in Customs Fees
US Duty is not paid on merchandise
destroyed or lost in production in the zone
20. TANK OF CHROMOZINE
10% DUTY RATE
VALUE OF $300,000
$30,000 DUTY PAID
GREENCHEM INC.
BEFORE BECOMING SUBZONE
TANK OF TRIGOLFERINE
SOLD IN DOMESTIC U.S.
VALUE OF CHROMOZINE LEFT
AFTER PRODUCTION $210,000
30% OF CHROMOZINE
LOST DURING PRODUCTION
DUTY IS PAID AT THE TIME THE MATERIAL COMES INTO THE U.S.
Duty on Waste and Yield Loss (No FTZ)
21. Elimination of Duty on Waste and Yield Loss
TANK OF CHROMOZINE
10% DUTY RATE
VALUE OF $300,000
$30,000 DUTY NOT
PAID WHEN ADMITTED
TO THE ZONE
30% OF CHROMOZINE
LOST DURING PRODUCTION
GREENCHEM INC.
SUBZONE FACILITY
TANK OF TRIGOLFERINE
SOLD IN DOMESTIC U.S.
$ ONLY 21,000 DUTY PAID ON
REMAINING CHROMOZINE IN
FINISHED PRODUCT
NO DUTY PAID ON
PRODUCTION LOSS
FOREIGN-TRADE ZONE SAVINGS= $9,000
22. Financial Benefits
Relief from Inverted Tariffs
Duty Deferral
No Duty on Re-exports
Duty reduction or elimination on scrap
Duty elimination on waste and yield loss
Reduction in Customs Fees
A process called “weekly entry” can reduce
the merchandise processing fee
23. Reduction in Customs Fees
Customs entries made on per shipment basis
Every entry is charged a fee based on 0.21% times
the value of the merchandise
There is a cap on the fee of ($485) per entry
Zone admissions are not Customs entries, therefore
not subject to Customs fees
24. MPF with No Zone
OLD AGE VACUUMS
FACILITY
Mon
MPF=$485
Tue
MPF=$485
Wed
MPF=$485
Thu
MPF=$485
Fri
MPF=$485
TOTAL MPF WITH NO WEEKLY ENTRY = $2,425
25. MPF with FTZ (Weekly Entry)
NEW AGE VACUUMS
SUBZONE FACILITY
ONLY ONE ENTRY IS
MADE FOR ALL THE
WEEKS SHIPMENTS
TOTALMPF = $485
Mon
Tue
Wed
Thu
Fri
SHIPPED TO
DOMESTIC U.S.Mon
MPF=$0
Tue
MPF=$0
Wed
MPF=$0
Thu
MPF=$0
Fri
MPF=$0
27. Acme Corporation’s:
Net Savings at a Glance
YEAR 1 YEAR 2 YEAR 3
Total FTZ Savings $1,050,666 $1,050,666 $1,050,666
Total FTZ Costs $195,000 $100,000 $100,000
Net FTZ Savings $855,666 $950,666 $950,666
28. Customs Duty and Fee Savings
YEAR 1 YEAR 2 YEAR 3
Cash flow $62,619 $62,619 $62,619
International returns,
obsolescence, waste,
scrap
$109,584 $109,584 $109,584
Re-exports $226,766 $226,766 $226,766
Merchandise Processing
Fee savings
$389,596 $389,596 $389,596
Brokerage fee savings $262,100 $262,100 $262,100
Customs Duty & Fee
Savings
$1,050,666 $1,050,666 $1,050,666
29. FTZ Sample Implementation & Operation Costs
TYPICAL COSTS YEAR 1 YEAR 2 YEAR 3
Fees Charged by FTZ Board N/A N/A
Fees Charged by FTZ Grantee
Consulting Fees include:
• Obtain FTZ Authority
• Activate with CBP
• Training
N/A N/A
FTZ Administration Software
• Software Implementation N/A N/A
SaaS Annual Fee
In House FTZ Personnel
Estimated Total Cost $195,000 $100,000 $100,000
NET SAVINGS FROM FTZ
OPERATIONS
$855,666 $950,666 $950,666
31. 1. Obtain Foreign Trade Zone Status
For Distribution Firms
– You must be located in an existing FTZ or
– You must apply for Foreign-Trade Zone status by
• Expanding or Modifying a General Purpose Zone
• Apply for Subzone Status
For Manufacturing Firms
– Even if you are located in an existing FTZ
• Apply for Foreign-Trade Zone Manufacturing Status
• Apply for Subzone Status
All applications and requests for FTZ status are
made to the Foreign-Trade Zones Board in
Washington, D.C.
32. 2. Activate Your Facility
Set up compliant procedures, and observe strict
audit trails required by U.S. CBP
Possibly the most important part of activation is
choosing an FTZ Inventory Control System
32
33. 3. Implementation of Software
Your company will need a robust Foreign-Trade
Zone inventory tracking and record keeping
system to manage the day-to-day FTZ operations
The system will need to:
– Meet U.S. Customs and Border Protection (CBP)
regulatory requirements
– Print CBP reports, forms, and entry documentation
– Perform many other tasks and processes unique to the
Foreign-Trade Zones program
35. Vision
Creating superior health care products to serve our global
community.
Mission
To become the world's most innovative and respected gelatin-
based drug delivery and specialty pharma company.
Who we are
Banner has done, and are currently doing, business with the
majority of the top 15 pharmaceutical companies in the world
36. Business & Manufacturing Locations
Around the Globe
Global Management
Center
Gelcaps de México
Banner Pharmacaps
(Canada) Ltd.
U.S. Corporate
Headquarters
Unites States
Manufacturing
Banner Pharmacaps
(Europe)
38. Banner’s Business Case for an FTZ
Identified imported raw materials with substantial
duties in late 1990’s
If raw materials were converted into “medicaments,”
would “substantially transform” the product to HTS
classification without duty
Task to implement appeared too difficult
Banner backed away
39. Banner’s Business Case for an FTZ
Large customer came to Banner in 2007
Wanted Banner to develop a softgel with their
imported active pharmaceutical ingredient (API)
Projected annual duty > $4 million USD
Award of business contingent on Banner
establishing an FTZ with permission
to manufacture
40. Banner’s Business Case for an FTZ
A substantial business opportunity
+ Banner’s own savings potential
= Banner pursuing a foreign-trade zone
41. Project Milestones
Summer 2007 – Decided to pursue FTZ
Fall 2007 – Evaluated of software and consulting service
providers
January 2008 – Engaged FTZ Corporation
February 2008 – FTZ Application out for public review
April 2008 – Project funding approved
– FTZ Consulting Services
– FTZ Compliance Software
September 2008 – Received approval
November 2009 – Activated
43. Internal Expenses Prior to Activation
Information Technology
– Interface file program development
– Dedicated server
– Communications equipment (CBP)
Project Team
– Labor
Signs
– All entry ways
– Property perimeter
44. Benefits Realized First Year
Improved cash flow
Obsolescence, waste, and scrap
Re-export of raw material
Merchandise processing fee savings
Brokerage fee savings
Return on Investment
Cash positive
45. What We Did Fairly Well
Identified that we needed professional help
Our due diligence was thorough
Chose single source for software and consulting
Our partner anticipated everything we would encounter
Example:
Significant time to test interface files
More surprises that we thought
46. What We Did Fairly Well
Developed thorough understanding of difference in
inventory systems
Built a relationship with the CBP Port Director and
Grantee
Remained completely transparent with Port Director
at all times
47. If We Were to Do it Over Again We Would Have . . .
Engaged consulting services before starting
Used an FTZ expert to develop our FTZ application
Included all of our products in initial application filing
Networked with other FTZ operators early on
(NAFTZ and local)
Not have underestimated ALL potential inventory
transactions
Dedicated full-time resources to project
48. If You Are Considering Implementing an FTZ . . .
Get professional help to get results sooner and do a
better job of implementing
Use a single solution provider for both the software
and consulting
Assign daily responsibility to a customs compliance
specialist
Build a relationship and trust with your CBP Port
Director along the way
Train and communicate effectively with your
– Leadership | Employees | Suppliers